| Small and medium-sized enterprises play important role in the development of China's economy.But because of their own limitations,financing difficulty is one of the most important factors that hinder their development.With the deepening of the reform and innovation of China's finance,many banks creatively put forward the model of Supply Chain Finance from the perspective of enterprise supply chain management,and then extend it to small and medium sized enterprises in large enterprises' up-and downstream sectors.China's supply chain finance(including online and offline)has entered a high speed growth period before and after 2013.From 2017,the participation of large capital will increase significantly.The deep integration of supply chain will become the main path.A large number of supply chain enterprises will transform their business mode,and the cooperation between banks and enterprises must also find new ways to cooperate with the new trend.In recent years,China's e-commerce market has been active,and the trading volume has grown geometrically.The combination of e-commerce technology and traditional supply chain finance has spawned new modes of B2 B online supply chain finance operations such as Alibaba and JD.The practice and development of online supply chain based on the Internet and e-commerce platform is changing with each passing day,while the research on supply chain finance in academia mainly focuses on the operation mode,supply chain efficiency,revenue of all participants and the recognition of traditional supply chain financial risks.The online supply chain finance risk assessment system based on the B2 B model is still under exploration.Practical guidelines have not yet been fully formed and there is no uniform standard.Therefore,on the one hand,this article discusses the establishment of a risk assessment system that is consistent with the financial characteristics of online supply chain under the B2 B model,carries out a comprehensive evaluation of supply chain risk,and carries out risk identification and risk assessment for each participant in the online supply chain.On the other hand,quantitative analysis of the B2 B model through the use of binary trees to obtain the optimal financing interest rate issues,determine the reasonable financing rate,as well as risk control strategies taking credit risk into account,thereby reducing the supply chain risk.This article first summarizes related literature in recent years,sums up current research results of supply chain finance,compares online supply chain finance with e-commerce participation with traditional supply chain finance,analyze the characteristics and advantages of this emerging supply chain finance operation model and the emerging new risk points,and refine the factors that may affect the risk of online supply chain finance.Secondly,using AHP and fuzzy comprehensive evaluation methods,according to the characteristics of each decision-making target,establish a risk assessment system that is consistent with the financial characteristics of online supply chain,conduct risk identification and risk assessment for B2 B online supply chain finance,and use Matlab builds a model to simplify calculations.Thirdly,according to the results of the analytic hierarchy process and the fuzzy comprehensive evaluation,the financial supply control measures and recommendations of the online supply chain are targeted,and the quantitative analysis of the optimal financing rate through the use of binary trees under the B2 B model.Finally,through the actual case of B2 B online supply chain finance,to verify the practicality and effectiveness of the B2B-based online supply chain finance risk assessment system and risk control program.Based on the above ideas,this article has obtained the following conclusions and results:Firstly,compared with traditional supply chain finance,online supply chain finance with e-commerce participation has improved the financing efficiency,reduced costs and risks in the aspects of credit investigation,model design,credit approval,and post-lending management.At the same time,due to the participation of new entities and the participation of new e-commerce technologies,new risk points will emerge,such as the level of specialization of B2 B e-commerce platforms,technology level,the relationships between e-commerce and banking,and the relationship between enterprises and e-commerce.Secondly the online supply chain finance risk assessment system was established,including 7 first-level indicators,16 second-level indicators and 58third-level indicators,comprehensively considered the relationship between the four main entities and their relationships among financing companies,e-commerce platforms,commercial banks,and logistics companies in onlinesupply chain finance,taking into account credit risk,market risk,operational risk and other risk factors.Thirdly,through analytic hierarchy process,it is concluded that financing companies have the greatest impact on the financial risk of online supply chain.In addition,supply chain level and e-commerce platform are also important factors in online supply chain risk.Fourthly,since the overall operating status of the financing companies in supply chain finance is extremely important,the KMV model is used to evaluate the credit risk of the financing companies,and the option binary tree is used to obtain the optimal financing rate including.It also proposed the use of options to reduce the overall risk of online supply chain finance.In the end,the article verifies the effectiveness and practicability of the B2 B online supply chain finance risk assessment system and risk control program through actual cases,and provides a reference for the risk evaluation and control of this emerging supply chain financing model.The study found that the risk assessment results obtained by the fuzzy comprehensive evaluation method and the KMV model were consistent,and the financing interest rate calculated by using the option binary tree was lower than the loan interest rate for the same period. |
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